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SOMRS

State of Michigan Retirement System Portfolio holdings

AUM $22.6B
1-Year Est. Return 40.24%
This Fund
S&P 500
This Quarter Est. Return
+9.08%
1 Year Est. Return
+40.24%
3 Year Est. Return
+127.54%
5 Year Est. Return
+152.65%
10 Year Est. Return
+534.6%
AUM
$17B
AUM Growth
+$1.22B
Cap. Flow
-$74.4M
Cap. Flow %
-0.44%
Top 10 Hldgs %
25.67%
Holding
996
New
21
Increased
308
Reduced
572
Closed
27

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$92.9M
2
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$74.9M
3
MSFT icon
Microsoft
MSFT
+$64.6M
4
MS icon
Morgan Stanley
MS
+$55.1M
5
PG icon
Procter & Gamble
PG
+$54.1M

Top Sells

Rank Stock Value
1
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$80.1M
2
CMCSA icon
Comcast
CMCSA
+$63.1M
3
ORCL icon
Oracle
ORCL
+$61.8M
4
SYF icon
Synchrony
SYF
+$52.9M
5
TMO icon
Thermo Fisher Scientific
TMO
+$51.8M

Sector Composition

Rank Sector Weight
1 Technology 22.71%
2 Healthcare 13.17%
3 Financials 12.09%
4 Communication Services 9.67%
5 Consumer Discretionary 9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GNW icon
976
Genworth Financial
GNW
$3.71B
– –
-184,309
Closed -$612K
IDCC icon
977
InterDigital
IDCC
$8.89B
– –
-11,246
Closed -$714K
LNG icon
978
Cheniere Energy
LNG
$52.9B
– –
-4,800
Closed -$346K
MODV
979
DELISTED
ModivCare
MODV
– –
-125,500
Closed -$18.6M
MVIS icon
980
Microvision
MVIS
$78.9M
– –
-33,333
Closed -$9.28M
SVC
981
Service Properties Trust
SVC
$1.07B
– –
-12,203
Closed -$724K
TENB icon
982
Tenable Holdings
TENB
$4.01B
– –
-60,722
Closed -$2.2M
TR icon
983
Tootsie Roll Industries
TR
$2.98B
– –
-7,692
Closed -$220K
TXG icon
984
10x Genomics
TXG
$6.61B
– –
-3,762
Closed -$681K
U icon
985
Unity
U
$18.9B
– –
-5,262
Closed -$528K
DCT
986
DELISTED
Duck Creek Technologies, Inc. Common Stock
DCT
– –
-20,162
Closed -$910K
TLND
987
DELISTED
Talend S.A. American Depositary Shares
TLND
– –
-27,504
Closed -$1.75M
GRUB
988
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
– –
-17,283
Closed -$2.07M
CLGX
989
DELISTED
Corelogic, Inc.
CLGX
– –
-27,123
Closed -$2.15M
CMD
990
DELISTED
Cantel Medical Corporation
CMD
– –
-13,925
Closed -$1.11M
FLIR
991
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
– –
-32,916
Closed -$1.86M
PRSP
992
DELISTED
Perspecta Inc. Common Stock
PRSP
– –
-50,753
Closed -$1.47M
VAR
993
DELISTED
Varian Medical Systems, Inc.
VAR
– –
-23,506
Closed -$4.15M
TCF
994
DELISTED
TCF Financial Corporation Common Stock
TCF
– –
-56,546
Closed -$2.63M
REGI
995
DELISTED
Renewable Energy Group, Inc.
REGI
– –
-355,400
Closed -$23.5M
UFS
996
DELISTED
DOMTAR CORPORATION (New)
UFS
– –
-20,129
Closed -$744K
36 37 38 39
40

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FAM
Fred Alger Management New York $22.8B AUM 64.63% 1-Year Est. Return
BA
Bridgewater Associates Westport, Connecticut $22.4B AUM 34.48% 1-Year Est. Return
Tiger Global Management
Tiger Global Management New York $22.8B AUM 30.07% 1-Year Est. Return
AM
AGF Management Toronto, Ontario, Canada $22.3B AUM 46.42% 1-Year Est. Return
Capital Fund Management (CFM)
Capital Fund Management (CFM) Paris, France $22.1B AUM 20.49% 1-Year Est. Return
CAM
Cresset Asset Management Chicago, Illinois $23.1B AUM 27.04% 1-Year Est. Return
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 1-Year Est. Return
DSA
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return

State of Michigan Retirement System's Q2 2021 Portfolio in Review

As of Q2 2021, State of Michigan Retirement System held 996 positions worth $17B, up 7.7% from $15.8B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Trading was light in Q2 2021: portfolio turnover was 4.8%. State of Michigan Retirement System opened 21 new positions and exited 27, leaving the 996-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.

  • State of Michigan Retirement System's largest Q2 2021 buy was iShares JPMorgan USD Emerging Markets Bond ETF: 673,200 shares worth $75.7M.
  • State of Michigan Retirement System added most to iShares iBoxx $ Investment Grade Corporate Bond ETF in Q2 2021, an estimated $92.9M increase.
  • State of Michigan Retirement System's biggest Q2 2021 reduction was Berkshire Hathaway Class B, cutting an estimated $80.1M.
  • State of Michigan Retirement System fully exited Renewable Energy Group, Inc. in Q2 2021, selling an estimated $23.5M.
  • State of Michigan Retirement System's ten largest holdings make up 26% of its $17B portfolio in Q2 2021.
  • State of Michigan Retirement System opened 21 new positions and closed 27 in Q2 2021.
  • State of Michigan Retirement System's portfolio value rose 7.7% quarter-over-quarter to $17B.

Based on State of Michigan Retirement System's 13F filing for Q2 2021, filed 27 Jul 2021.